AI startup Reflection has signed a computing agreement worth more than US$1 billion with Nebius  (NASDAQ: NBIS), giving it access to Nvidia’s latest chips through 2029, Reuters reported.

The deal comes as AI developers compete for data centre capacity to train and run increasingly large models, with demand continuing to outpace new supply.

Founded by two former Google DeepMind researchers, Reflection develops open-source AI models, deployment software and infrastructure services for developers, enterprises and public-sector organisations. Its models are positioned as alternatives to closed systems from companies including OpenAI and Anthropic.

Interest in open models has grown as companies seek to lower AI costs and reduce dependence on a small number of providers.

Reflection co-founder and CTO Ioannis Antonoglou said the additional capacity would support the development and training of larger AI models.

The Nebius agreement follows a separate computing deal signed with SpaceX in June.

Under that agreement, Reflection gained access to Nvidia GB300 chips through SpaceX’s Colossus infrastructure and agreed to pay US$150 million a month from 1 July 2026 through 2029, according to materials reviewed by CNBC.

The contract could be worth about US$6.3 billion if it runs for the full term.

The latest deal adds to Nebius’s growing portfolio of long-term infrastructure contracts. The company recently signed a 10-year agreement for 22MW at Kao Data’s Harlow campus as part of its £1.7 billion UK investment programme.

Nebius also has a five-year agreement with Meta worth up to US$27 billion, including US$12 billion of dedicated capacity from early 2027 and up to US$15 billion of additional capacity. The deployment will use Nvidia’s Vera Rubin platform.

Its five-year Microsoft contract is worth US$17.4 billion and could rise to US$19.4 billion if additional capacity is taken. Nebius began supplying dedicated GPU infrastructure from its Vineland, New Jersey, facility under the agreement.